Oil prices breach $100 on escalating Iran-US tensions, supply fears

Brent crude oil prices crossed the $100 threshold on Wednesday as fresh attacks near the Strait of Hormuz deepened anxieties over global crude supplies. The strategic waterway, through which nearly one-third of the world's seaborne oil passes, has become increasingly volatile amid rising geopolitical tensions between Tehran and Washington.

Shipping attacks in the region have accelerated in recent days, forcing vessel operators to reassess routes and insurance costs. The disruptions to maritime traffic, coupled with broader supply-chain concerns, have prompted international oil markets to price in the risk of extended supply constraints.

Analysts warn that further escalation could trigger sharper price spikes and broader economic repercussions. For India, a major oil importer heavily dependent on Middle Eastern crude, elevated prices translate to increased energy costs and potential inflationary pressures. Indian refineries and fuel retailers typically face margin compression when global crude prices surge unexpectedly.

Market watchers are closely monitoring developments in the region, with some predicting prices could climb further if tensions between Iran and the United States intensify. Energy officials across Asia have begun contingency planning to mitigate supply disruptions should the security situation deteriorate.